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Oct 8, 2017
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we're going to expand the deficit. you can't fully grow your way out of this anymore. >> i think that's the only way you're going to get out of this is to grow your way out of it. we're willing to have short-term tax and deficits in order to get back to that real healthy american economy. remember, if you're 30 years old, you've never had a job as an adult in this country with a healthy economy, and we're trying to get back to that. >> in sandy relief, as congressman, you were for the relief but you wanted some cuts with it. why should hurricane relief for harvey, irma, maria, now nate be handled the same way? >> we're not there yet. keep in mind there are a couple different ways we address disaster relief funding in this country, and right now we're sort of in the emergency, making sure people have drinking water and electricity -- >> is this something that's changed for you being a congressman? >> the fight we had in congress, i think it was in 2012, i lose track of the years -- >> sandy. >> -- sandy, yeah, that was
we're going to expand the deficit. you can't fully grow your way out of this anymore. >> i think that's the only way you're going to get out of this is to grow your way out of it. we're willing to have short-term tax and deficits in order to get back to that real healthy american economy. remember, if you're 30 years old, you've never had a job as an adult in this country with a healthy economy, and we're trying to get back to that. >> in sandy relief, as congressman, you were for...
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Sep 17, 2011
09/11
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deficit reduction is on this table. strengthening social security on -- has its own trust fund, its savings should be poured back into it. >> that's the condition. when you're looking at what the super committee produces, that is what -- that is a line, right? if they're confusing those two. >> super committee, in my view, has to begin with job creation. and we have pushed to say we want a report on job creation as part of their -- >> but do you think that's how they understand their portfolio is job creation or they understand about it as long-term austerity agenda? >> you cannot reduce the deficit unless you create jobs. you cannot reduce the deficit unless you bring revenue into the treasury and reduce public support for those who are out of work. but the president's jobs bill is a good place for them to start, if it can't make it through the congress for one reason or another. the public cannot wait. that table is center of attention. people are watching. job creation, revenue, containing costs, however you want to
deficit reduction is on this table. strengthening social security on -- has its own trust fund, its savings should be poured back into it. >> that's the condition. when you're looking at what the super committee produces, that is what -- that is a line, right? if they're confusing those two. >> super committee, in my view, has to begin with job creation. and we have pushed to say we want a report on job creation as part of their -- >> but do you think that's how they...
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May 17, 2013
05/13
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not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest projected deficits since 2008, trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long-term deficits is rising health care costs and -- get thi
not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. maybe even a hashtag. you would think it would be front page news on every website. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report...
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Oct 16, 2012
10/12
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the deficit will be over $200 billion smaller than it was last year when the deficit was already smaller than the one the president inherited. barack obama turns out to be a reducer of the deficit. but he gets zero credit for this in the press or turns out with voters. joining us is the man who was supposed to stop problems like that from happening. senior adviser robert gibbs. thank you for being here tonight. >> thank you for having me e. >> am i blaming you unfairly? >> i think that was quite an intro. i do think you make a series of great points. we forget that before barack obama ever walked into the oval office, president bush had spent a trillion dollars that year. they want to blame -- it's funny. you listen to them talk about it and you forget that that was all under their watch. and so many of the policies that we're trying to unwind right now, we ended the war in afghanistan. we had to put more troops in afghanistan, now we're in the process of bringing more troops home. the bush tax cuts a lot of things that we're having to continue to pay for that are really the result of ho
the deficit will be over $200 billion smaller than it was last year when the deficit was already smaller than the one the president inherited. barack obama turns out to be a reducer of the deficit. but he gets zero credit for this in the press or turns out with voters. joining us is the man who was supposed to stop problems like that from happening. senior adviser robert gibbs. thank you for being here tonight. >> thank you for having me e. >> am i blaming you unfairly? >> i...
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Apr 14, 2013
04/13
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there's good deficit spending and bad deficit spending. there's deficit spending for good programs that return on investment like any business, and there's deficit spending that is wasteful that should be cut. there is a little subtlety to this that the president, as the leader of the nation, needs to explain about what we're doing and why. that's what we need to here. >> in fairness, you know, president obama the last four years is not the first major democrat on the national stage to make a big deal about deficits. this story goes back generations. we have a pretty fun video that's going to make an important point in the context to this and we'll play it as soon as we come back. 7 socks and 6 weeks of sleep but one thing you don't want to lose is any more teeth. if you wear a partial, you are almost twice as likely to lose your supporting teeth. new poligrip and polident for partials 'seal and protect' helps minimize stress, which may damage supporting teeth, by stabilizing your partial. and 'clean and protect' kills odor-causing bacteri
there's good deficit spending and bad deficit spending. there's deficit spending for good programs that return on investment like any business, and there's deficit spending that is wasteful that should be cut. there is a little subtlety to this that the president, as the leader of the nation, needs to explain about what we're doing and why. that's what we need to here. >> in fairness, you know, president obama the last four years is not the first major democrat on the national stage to...
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Mar 7, 2019
03/19
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and same thing with the budget deficit. sometimes you want them big, sometimes you want them going away. >> but also the u.s. consumer wants to buy those cheap goods from china. it is the u.s. consumer that made amazon one of the most powerful companies on the planet. so it is unclear to me who the president is angry at when it comes to this deficit. >> that is a great point. and on a couple levels. first of all, you are right that our very -- these days consumers are doing better because of the strong job are market. and they pull in a lot of imports from abroad. and that is one of the main reasons for the trade deficit. but also who are the tariffs actually dinging at the end of the day. trump has it all muddled up in his head that they are somehow being paid by those who export to our shores. no, they are being paid by american consumers. again because of the economy and labor market have been relatively strong in many places, consumers have been strong and pulling in a lot of imports. but it is true that those tariffs a
and same thing with the budget deficit. sometimes you want them big, sometimes you want them going away. >> but also the u.s. consumer wants to buy those cheap goods from china. it is the u.s. consumer that made amazon one of the most powerful companies on the planet. so it is unclear to me who the president is angry at when it comes to this deficit. >> that is a great point. and on a couple levels. first of all, you are right that our very -- these days consumers are doing better...
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Jul 29, 2011
07/11
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and republican deficit proposals aren't really aimed at the deficit. they ever aimed at something much bigger. they don't want to end medicare as we know it, they want to end government as we know it. it's a little bit closer to that thing. ok. ezra klein is going to join me. o positively radiant tinted moisturizers with scientifically proven soy complex and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers. dr. scholl's custom fit orthotic center recommends the custom-fit orthotic that's best for your tired feet. foot-care scientists are behind it. you'll get all-day relief. for your tired achy feet. for locations, see drscholls.com. thank you... >>> that is the most of "the lord of the rings" i have seen so far. time for tonight's "rewrite." straight-talking john mccain is at odds with another prominent republican, double-talking john mccain. it all started after john mccain delighted many of us reading from a "wall street journal" scathing editorial on the floor challenging ma
and republican deficit proposals aren't really aimed at the deficit. they ever aimed at something much bigger. they don't want to end medicare as we know it, they want to end government as we know it. it's a little bit closer to that thing. ok. ezra klein is going to join me. o positively radiant tinted moisturizers with scientifically proven soy complex and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers. dr. scholl's...
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Sep 8, 2011
09/11
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we have deficits and i heard the introduction, but we have deficits right now as you know that are just coming out of the eyeballs and we have $14.7 trillion and we have -- excuse ne this deb me in the debt, and a president who said he would cut it in half by the first term, and then he introduced the biggest stimulus in the history of america and in the speech today, and i know you are talking about the debate, but the problem is that the americans are glazed over with these speeches and this talk and now a joint session and now we are going to have another 45 minutes on television, and i think that they have had it. i agree with at least the premise that you are getting to that people, that americans do want to see both sides working together, but the problem that we have is that i think that we have a president who is the classic community organizer who can bring people together in a room -- >> well, i -- >> and he needs to be specific. >> well, there are a lot of specifics on the table and we will see more here, but it is clear to everybody all along and he has put specific plans on
we have deficits and i heard the introduction, but we have deficits right now as you know that are just coming out of the eyeballs and we have $14.7 trillion and we have -- excuse ne this deb me in the debt, and a president who said he would cut it in half by the first term, and then he introduced the biggest stimulus in the history of america and in the speech today, and i know you are talking about the debate, but the problem is that the americans are glazed over with these speeches and this...
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Dec 6, 2019
12/19
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worrying about deficits. and he said, if my party doesn't start getting interested in deficits. both of those lines are lies. they are republican lies. that for some reason pete buttigieg decided to tell today. during pete buttigieg's entire lifetime, republicans have increased the deficit and democrats have worked hard to decrease the deficit and taken grave political risk in doing that. pete buttigieg was 11 years old when bernie sanders and the house of representatives and joe biden and the united states senate cast politically brave votes on deficit reduction bill that no republicans voted for because it included tax increases as well as spending cuts. bernie sanders lost a lot of democratic colleagues in the house of representatives who cast that vote because they were defeated in their re-election because of that vote. and the democrats lost the house of representatives because of that vote for the first time in 40 years. the democrats lost the united states senate after that vote. those were tough vote
worrying about deficits. and he said, if my party doesn't start getting interested in deficits. both of those lines are lies. they are republican lies. that for some reason pete buttigieg decided to tell today. during pete buttigieg's entire lifetime, republicans have increased the deficit and democrats have worked hard to decrease the deficit and taken grave political risk in doing that. pete buttigieg was 11 years old when bernie sanders and the house of representatives and joe biden and the...
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Oct 21, 2022
10/22
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for americans, the deficit could not be clearer. we don't have to take their -- my word for it what they're for. they've laid out a plan that -- out -- they laid out very clearly, congressional republicans say -- and you will know this, their number one priority is to repeal the inflation reduction act. here's what that means. if they get their way, the power we just gave medicare to begin to negotiate lower prescription drugs goes away. gone. if they get their way, the $2,000 cap on prescription drug costs which takes effect next year, maximum, any senior would have to pay no matter what their drug costs are would be $2,000, goes away, gone. the $35 a month cap on insulin which takes effect next year, folks on medicare, gone. the savings on health care premiums of $800 a year for millions of americans under the affordable care act, gone. and, of course, there's still determined to repeal the affordable care act which means and under the protections for tens of millions of people who cannot afford health insurance because they have
for americans, the deficit could not be clearer. we don't have to take their -- my word for it what they're for. they've laid out a plan that -- out -- they laid out very clearly, congressional republicans say -- and you will know this, their number one priority is to repeal the inflation reduction act. here's what that means. if they get their way, the power we just gave medicare to begin to negotiate lower prescription drugs goes away. gone. if they get their way, the $2,000 cap on...
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Dec 7, 2018
12/18
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we're going to stop our deficits. we're going to stop our deficits. i'm really good at it. who's better at debt than i am? is there anybody? we're not going to be increasing our debt. >> he increased the debt by a lot. the debt has increased dramatically. donald trump has taken it from $19 trillion up to $21.7 trillion, and it's going up from there. the daily beast is reporting that president trump was shown projections of the national debt in his first year in office and he said he didn't care about it. and then there is the trade deficit, which is also now worse than ever after donald trump ran a presidential campaign promising to just eliminate our trade deficit with foreign countries. but tariff man as he now calls himself has now presided over what is now a record high trade deficit with china. and the highest overall trade deficit in ten years. the stock market apparently fell for donald trump's lie that he tweeted this weekend saying that china has agreed to reduce and remove tariffs on cars coming into china from the u.s. that would be a really big deal, but it was
we're going to stop our deficits. we're going to stop our deficits. i'm really good at it. who's better at debt than i am? is there anybody? we're not going to be increasing our debt. >> he increased the debt by a lot. the debt has increased dramatically. donald trump has taken it from $19 trillion up to $21.7 trillion, and it's going up from there. the daily beast is reporting that president trump was shown projections of the national debt in his first year in office and he said he...
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Jul 26, 2011
07/11
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these emergency steps also added to the deficit. now, every family knows a little credit card debt is manageable, but if we stay on the current path, our growing debt could cost us jobs and do serious damage to the economy. more of our tax dollars will go towards paying off the interest on our loans. businesses will be less likely to open up shop and hire workers in a country that can't balance its books. interest rates could climb for everyone who borrows money, the home owner with a mortgage, student with a college loan, the corner store that wants to expand, and we won't have enough money to make job creating investments in things like education and infrastructure or pay for vital programs like medicare and medicaid. because neither party is blameless for the decisions that led to this problem, both parties have a responsibility to solve it. and over the last several months, that's what we've been trying to do. i won't bore youç with the details of every plan or proposal, but basically the debate has centered around two differe
these emergency steps also added to the deficit. now, every family knows a little credit card debt is manageable, but if we stay on the current path, our growing debt could cost us jobs and do serious damage to the economy. more of our tax dollars will go towards paying off the interest on our loans. businesses will be less likely to open up shop and hire workers in a country that can't balance its books. interest rates could climb for everyone who borrows money, the home owner with a mortgage,...
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Jul 29, 2011
07/11
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or debt, has never been about the deficit or debt. it has been all about starving the beast. reducing the size of government and reversing the last century of progress. [ male announcer ] get ready for the left lane. the volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, including the cc. and every volkswagen includes scheduled carefree maintenance. that's the power of german engineering. right now lease the volkswagen cc sport for just $289 a month. ♪ visit vwdealer.com today. >>> this is a challenge for boehner in the house. he must pass a debt ceiling increase in his republican house of representatives. elections are all about politics. then the winners actually have to govern. i can see on election night some of the new members of congress are going to hold the debt ceiling hostage because they wouldn't understand when the politics end and the governing begins. >>> still to come tonight, oh, wait, is this -- it's still there. i don't know. we can't seem to get this new york post head
or debt, has never been about the deficit or debt. it has been all about starving the beast. reducing the size of government and reversing the last century of progress. [ male announcer ] get ready for the left lane. the volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, including the cc. and every volkswagen includes scheduled carefree maintenance. that's the power of german engineering. right now lease the volkswagen cc sport for just $289 a...
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Feb 27, 2013
02/13
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62% of americans say the deficit is getting bigger. 28% of americans say the deficit is staying about the same. yeah, those 62 plus 28, that's 90% of the country that gives a wrong answer to that question. so how many americans know the right answer? a proportion of the american public who knows the correct answer, which is that the deficit is getting smaller is 6%. total. if we are supposedly so worried about this problem that we are willing to inflict pretty big economic pain on the country starting on friday in order to strike a symbolic pose of seriousness in addressing this awful problem, wouldn't you think that more than 6% of people in the country should be able to correctly identify what the problem is? joining us now is congresswoman marcy kaptur, democrat of ohio and jared bernstein, a former economic policy adviser to vice president joe biden. he is also a cnbc and msnbc contributor. thank you both so much for being here. i'm sorry i made you sit through the alaska gun rights thing. >> it's fascinating. >> there is a lot going on that we aren't working on because we're work
62% of americans say the deficit is getting bigger. 28% of americans say the deficit is staying about the same. yeah, those 62 plus 28, that's 90% of the country that gives a wrong answer to that question. so how many americans know the right answer? a proportion of the american public who knows the correct answer, which is that the deficit is getting smaller is 6%. total. if we are supposedly so worried about this problem that we are willing to inflict pretty big economic pain on the country...
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Oct 17, 2018
10/18
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so basically republicans, they just make up these lies about the deficit. they love the deficit. that is the truth of the matter because that is what gives them the political wherewithal to cut spending, which is what they really care about. and only spending that helps people. they want to increase spending for the military and so the truth is they love deficits. >> austin, what happens next? because bruce is right. we're getting to a point where conservative orthodox i says if you're running up deficits, you're going to have to cut. we know that there are great difficulties in cutting what we call entitlement spending, social security, medicaid, medicare. we know we're not seeing any cuts to the military, so we'll start to see programs cut that are easy to cut first. but mitch mcconnell has already sounded the drums about cutting into entitlement programs. if americans don't support this tax plan as it is, are they going to get on board with that? >> no, of course, they're not going to get on board with it. i tell you what's going to happen. two things are going to happen. one
so basically republicans, they just make up these lies about the deficit. they love the deficit. that is the truth of the matter because that is what gives them the political wherewithal to cut spending, which is what they really care about. and only spending that helps people. they want to increase spending for the military and so the truth is they love deficits. >> austin, what happens next? because bruce is right. we're getting to a point where conservative orthodox i says if you're...
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Jan 14, 2013
01/13
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed, and so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie collins. yeah. >> i would like to ask you now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's longstanding. another more recent. the long-standing one seems to have become a truism of sorts that you and your staff are
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably...
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Apr 10, 2013
04/13
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our deficits are already falling. over the past two years, i have signed legislation that will reduce our deficit by 2.5 trillion, more than 2/3 of it through spending cuts and the rest through asking the weal wealthest americans to pay their fair share. that doesn't mean we don't have more work to do, but here's how we finish the job. my budget will reduce our deficits by nearly another $2 trillion so that all told, we will have surpassed the goal of $4 trillion in deficit reduction that independent economists believe we need to stabilize our finances. but it does so in a balanced and responsible way, a way that most americans prefer. both parties for example agree that the rising cost of caring for an aging generation is the single biggest driver of our long-term deficits. and the truth is, for those like me who deeply believe in our social insurance programs think it's one of the core things that our government needs to do if we want to keep medicare working as well as it has, and we want to preserve the ironclad g
our deficits are already falling. over the past two years, i have signed legislation that will reduce our deficit by 2.5 trillion, more than 2/3 of it through spending cuts and the rest through asking the weal wealthest americans to pay their fair share. that doesn't mean we don't have more work to do, but here's how we finish the job. my budget will reduce our deficits by nearly another $2 trillion so that all told, we will have surpassed the goal of $4 trillion in deficit reduction that...
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Dec 16, 2017
12/17
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and it doesn't add one penny to the deficit. it adds 100 trillion pennies to the deficit. now, you can see why bob corker doesn't want new video today of him saying he is voting for a bill that increases the deficit after saying on "meet the press" he wouldn't vote for anything that increases the deficit for a penny. the videos would be stuck together tonight and show them to you and for the rest of bob corker's political life. video of him saying i won't vote for a bill that increases the deficit by a penny and then video of him saying today, i guess i will. and so, there is no video of bob corker proudly owning the decision that he made today. the only thing that could prevent bob corker from being consistent is ambition. for politicians, ambition always trumps consistency. like marco rubio who skillfully played the role of the last senate holdout before he announced today to vote for the bill. bob corker is obviously thinking about running for president. how could he not? the current republican president could not be more unpopular and donald trump might exhaust republi
and it doesn't add one penny to the deficit. it adds 100 trillion pennies to the deficit. now, you can see why bob corker doesn't want new video today of him saying he is voting for a bill that increases the deficit after saying on "meet the press" he wouldn't vote for anything that increases the deficit for a penny. the videos would be stuck together tonight and show them to you and for the rest of bob corker's political life. video of him saying i won't vote for a bill that...
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Mar 26, 2013
03/13
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the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors, feeding children, cutting the department of education. they don't want to cut the deficit, they want to do it to get rid of programs they don't like. >> it's killing two birds with one stone. jared makes a great point. the way things are supposed to work is when we come out of these recessions we're supposed to grow and everything is supposed to get better. that's not happening yet. not happening yet and we have at the same time the incredible income inch quality issue. whatever you think about the tax cuts, when you have a middle class th
the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors,...
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Mar 9, 2019
03/19
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one of the things we're going to do on this show is we're going to deficit. a deficit. he ran that he could manage the deficit, he attacked his predecessors about the deficit. how do you run for re-election when you've done the total opposite of what you promised, people including your base. that's the question. >> look, reverend, it's not the total opposite. i mean, the president's been in office for two years now. and i think it's safe to say that trade deficits, for example, have been an extreme problem, and this is one president that has put america first when it comes to renegotiating trade agreements. what we do see happening is record number of jobs coming back into the united states. we see unemployment as an all-time low. we see african-american unemployment historically at lower levels because he is empowering the economy by by taking on -- >> thoiunemployment was going d before he came in and it just continued. it has nothing to do with the fact that he promised he was going to take control of the deficit. the deficit, david, is higher than it has been, and h
one of the things we're going to do on this show is we're going to deficit. a deficit. he ran that he could manage the deficit, he attacked his predecessors about the deficit. how do you run for re-election when you've done the total opposite of what you promised, people including your base. that's the question. >> look, reverend, it's not the total opposite. i mean, the president's been in office for two years now. and i think it's safe to say that trade deficits, for example, have been...
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Feb 3, 2012
02/12
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but he's right, if you extend them, you will extend the deficit. the fact that he and others are criticizing the baseline from that direction shows that republicans know perfectly well the bush tax cuts are a budget buster. >> so when obama's opponents come out, when the president's opponents come out and say he's responsible for $4.7 trillion in deficits, what is the short answer here in the bullet point culture? >> he's not. barack obama is responsible for the deficits in his policies have put into place. but the fact of the matter is when you cut -- when he came in two weeks before he came in, so january 9th, 2009, the cbo put out a report and said deficits now for the next year, for first year of obama's presidency but before he was inaugurated was $1.2 trillion, that was with all bush policies, with the recession, obama had no control over that. the other point i want to make here, it is important to say this, it is not always a good idea to reduce the deficit. barack obama, president obama and the republicans and the democrats in congress nee
but he's right, if you extend them, you will extend the deficit. the fact that he and others are criticizing the baseline from that direction shows that republicans know perfectly well the bush tax cuts are a budget buster. >> so when obama's opponents come out, when the president's opponents come out and say he's responsible for $4.7 trillion in deficits, what is the short answer here in the bullet point culture? >> he's not. barack obama is responsible for the deficits in his...
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Oct 1, 2017
10/17
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you are willing to have the president sign a tax reform bill that increases deficit? >> not on a dynamic basis. so just to be clear. we fundamentally believe that there are actions in the tax code that create economic growth. so, no, the president is not going to sign something that he believes is going to increase the deficit. but that's different. >> on basis of what? and they'll probably be a debate on what the numbers mean? you acknowledge not everybody will agree? >> there should be a healthy debate on numbers and that's why we've had full transparency what the numbers will be. >> was it appropriate tom price was fired? >> again, i can't comment on he resigned. what i'll say is the american public needs to know how it's being spent and spent carefully. >> do you regret for american aircraft, whether kentucky, or the request you made i know ended up withdrawn at the time. do you regret doing that? >> i don't. and let me tell you why. first of all, all of your travel went through the same process as previous secretaries of the treasury. every single one of my trips
you are willing to have the president sign a tax reform bill that increases deficit? >> not on a dynamic basis. so just to be clear. we fundamentally believe that there are actions in the tax code that create economic growth. so, no, the president is not going to sign something that he believes is going to increase the deficit. but that's different. >> on basis of what? and they'll probably be a debate on what the numbers mean? you acknowledge not everybody will agree? >>...
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Dec 20, 2017
12/17
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it does not add to the deficit, this one does add to the deficit. even the most rosy estimate of is $1.5 trillion. the carried loophole is still in there. these were promises that the president made when he campaigned on, the american people, the ones that voted for him, many of them said this was part of the reason why they wanted to vote for him. they needed a tax cut. and yeah it is a tax cut for a majority of people in the short-term. in the long-term the tax cuts that are permanent are for the corporations. >> and i think the white house, political operation and the president are banking on the fact a lot of people across the country if they get more money in their pocket come april or may, they're not going to pay attention to all those things you just mentioned, all those incohe incoherencies of what he promised. they may get an even bigger percentage of their income back than higher earners. but on paper what that amounts to a bigger percentage of $55,000 a year is still a lot less money than a -- an analysis of this shows the top 1% get abo
it does not add to the deficit, this one does add to the deficit. even the most rosy estimate of is $1.5 trillion. the carried loophole is still in there. these were promises that the president made when he campaigned on, the american people, the ones that voted for him, many of them said this was part of the reason why they wanted to vote for him. they needed a tax cut. and yeah it is a tax cut for a majority of people in the short-term. in the long-term the tax cuts that are permanent are for...
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Dec 6, 2018
12/18
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that deficit to $793 billion. it's now on track to surpass $1 trillion. wow. so whether you think the deficit's, like, super important or not as important, let's be clear, as paul ryan prepares to leave his big job, he ran on cutting it. >> we think the wrong answer is to have a new gusher of spending, a new gusher of taxes and a new gusher of borrowing. >> a gusher of borrowing, which is what i just showed you he did. and that's not all. there are some ryan defenders who argue, well, part of that was compromising on policy in the obama era, and that's an argument but, again, let's just do the numbers. the clearest exposure of the ryan hypocrisy actually came just now in the last year because you had united republican government and ryan got one major bill passed into law in the trump era, this $1.5 trillion tax cut, which is growing the deficit. so look at this. when obama specifically left office in 2016, the deficit was around $538 billion. under paul ryan and donald trump, the deficit now grows to $782 billion
that deficit to $793 billion. it's now on track to surpass $1 trillion. wow. so whether you think the deficit's, like, super important or not as important, let's be clear, as paul ryan prepares to leave his big job, he ran on cutting it. >> we think the wrong answer is to have a new gusher of spending, a new gusher of taxes and a new gusher of borrowing. >> a gusher of borrowing, which is what i just showed you he did. and that's not all. there are some ryan defenders who argue,...
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Mar 14, 2013
03/13
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but we make targeted deficit reduction in the out years to bring the outyear deficits under control. we do not want our deficits growing faster than the economy. we want to stabilize our debt but we want to do it in a way that maintains our commitments to our seniors and invests in economic growth. that's what the democratic proposals will do. they'll invest in long-term economic growth. but in a targeted way, both by smart cuts, by closing all of those tax loopholes for high-income people. by the way, mitt romney and paul ryan talked about during the campaign -- those tax breaks are all still there. by eliminating those tax breaks, we can take a balanced approach to reducing the long-term deficit. which is an issue. but you shouldn't sacrifice economic growth now, on the altar of deep cuts and an austerity philosophy. >> i want to bring the panel in because you know, the congressman talks about making smart cuts now. what's in it for democrats to do any grand bargaining at all. any savings that would be applied in cutting the budget, would not be applied to their priorities. it's no
but we make targeted deficit reduction in the out years to bring the outyear deficits under control. we do not want our deficits growing faster than the economy. we want to stabilize our debt but we want to do it in a way that maintains our commitments to our seniors and invests in economic growth. that's what the democratic proposals will do. they'll invest in long-term economic growth. but in a targeted way, both by smart cuts, by closing all of those tax loopholes for high-income people. by...
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Jul 29, 2011
07/11
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and republican deficit proposals aren't really aimed at the deficit. they ever aimed at something much bigger. they don't want to end medicare as we know it, they want to end government as we know it. it's a little bit closer to that thing. ok. ezra klein is going to join me. add a little...or a lot. for a drink that's just the way you like it. make it yours. make it mio. my name is lacey calvert and i'm a yoga instructor. if i have any soreness, i'm not going to be able to do my job. but once i take advil, i'm able to finish out strong. it really works! [ laughs ] [ male announcer ] make the switch. take action. take advil. [ male announcer ] make the switch. diabetes testing? it's all the same. nothing changes. then try this. freestyle lite® blood glucose test strip. sure, but it's not gonna-- [beep] wow. yep, that's the patented freestyle zipwik™ design. did it just-- [both] target the blood? yeah, drew it right in. the test starts fast. you need just a third the blood of one touch.® that is different. so freestyle lite test strips make testing.
and republican deficit proposals aren't really aimed at the deficit. they ever aimed at something much bigger. they don't want to end medicare as we know it, they want to end government as we know it. it's a little bit closer to that thing. ok. ezra klein is going to join me. add a little...or a lot. for a drink that's just the way you like it. make it yours. make it mio. my name is lacey calvert and i'm a yoga instructor. if i have any soreness, i'm not going to be able to do my job. but once...
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Sep 19, 2011
09/11
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>> so, lower her tax rate. >> then get a bigger deficit. i thought you guys cared about deficits. >> this is a political loser. >> by the way, republicans say broaden the base. when they say broaden the base, they mean raise taxes on the poor. they're saying the poor don't pay enough taxes. we want to quote broaden the base by having poorer people pay more taxes. this is a basic fairness problem. >> i want to thank you. s.e., always great to see you. joy ann, same to you and the conversation will go on and again, the president scheduled to speak in just about ten minutes. >>> program note. jennifer granholm is going to be my special guest to talk about the fight for jobs and the future of america's economy tomorrow. >>> time for the your business entrepreneur of the week. michelle barton was an inmate at the coffee creek correctional facility in oregon. while incarcerated, she participated in a course, learning how to start and run a company. now, out of prison, she started forget me not cards and prints. for more, watch your business sunda
>> so, lower her tax rate. >> then get a bigger deficit. i thought you guys cared about deficits. >> this is a political loser. >> by the way, republicans say broaden the base. when they say broaden the base, they mean raise taxes on the poor. they're saying the poor don't pay enough taxes. we want to quote broaden the base by having poorer people pay more taxes. this is a basic fairness problem. >> i want to thank you. s.e., always great to see you. joy ann, same...
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Mar 7, 2019
03/19
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and overall it won't reduce the trade deficit at all. >> let's talk budget deficit. it is up 77% from a year ago. we know that that in part is caused by the tax cuts but tax cuts, we're waiting for growth out of it. but it is also caused by an increase in spending and that spending isn't going away. is there any chance this ship is going to get righted given the current administration? >> no. >> we're not lightening up on spending in any way. >> no. and we're not reversing the tax cuts. we probably wouldn't do a big spending bill like last time. >> and trump said before the midterms, we're expecting a middle class tax cut. >> no. he said he would reduce the budget deficit and erase the national debt in eight years which was a completely ridiculous claim. and what he's done with a giant tax cut is in crease deficits to a trillion dollars every year. and every single person said this tax cut will not pay for itself and it will increase the deficit and low and behold that is what happened. and macro economics who do this for a living who said the trade deficit would go
and overall it won't reduce the trade deficit at all. >> let's talk budget deficit. it is up 77% from a year ago. we know that that in part is caused by the tax cuts but tax cuts, we're waiting for growth out of it. but it is also caused by an increase in spending and that spending isn't going away. is there any chance this ship is going to get righted given the current administration? >> no. >> we're not lightening up on spending in any way. >> no. and we're not...
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Jun 14, 2012
06/12
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look, we have no choice whether we pay down our deficit. but we do have a choice about how we pay down our deficit. we do have a choice about what we can do without and where our priorities lie. i don't believe that giving someone like me a $250,000 tax cut is more valuable to our future than hiring transformative teachers or provide financial aid to the children of a middle class family. i don't believe that tax cut is more likely to create jobs than providing loans to new entrepreneurs or tax credits to small business owners who hire veterans. i don't believe it's more likely to spur economic growth than investments in clean energy technology and medical research or in new roads and bridges and runways. i don't believe that giving someone like mr. romney another huge tax cut is worth ending the guarantee of basic security we've always provided the elderly and the sick and those who are actively looking for work. those things don't make our economy weak. what makes our economy weak is when fewer and fewer people can afford to buy the goods
look, we have no choice whether we pay down our deficit. but we do have a choice about how we pay down our deficit. we do have a choice about what we can do without and where our priorities lie. i don't believe that giving someone like me a $250,000 tax cut is more valuable to our future than hiring transformative teachers or provide financial aid to the children of a middle class family. i don't believe that tax cut is more likely to create jobs than providing loans to new entrepreneurs or tax...
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Jul 18, 2011
07/11
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they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying to be fair to. so, if we say, all right, what we need to do is, in the pursuit of fairness, attach some kind of tax rate, you should make it the most simple, easy-to-do thing possible, and that's why i think the simpson/bowles commission, i think we got it right, as we said take it away for everybody. all the exclusions, all the exemptions, take it away for everybody so you broaden the base and significantly lower the rates. >> yes. >> you can get an increase in taxes and everybody's going to be happy, and corporations will also get territo
they all piled on to the deficit. don't fix the deficit on the backs of the most vulnerable americans. >> david cote, what about corporations and taxes? we hear about the need to lower tax rates, but then you have companies that aren't paying taxes at all. >> well, if you wanted the most dynamic jobs-creating economy in the world, you would have a 0% corporate tax rate. however, nobody can stand that, because in our pursuit of fairness, we actually hurt the very people we're trying...
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Oct 4, 2012
10/12
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said you'd cut the deficit in half, it's now four years later, we have $1 trillion deficits, the cbo says we'll have a $1 trillion deficit each of the next four years. if you're re-elected, we'll get to a $1 trillion debt. and i love this idea of $4 trillion in cuts. you found $4 trillion of ways to get closer to a balanced budget, yet we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want to raise taxes. well, i don't want to raise taxes on people. and you said it back in 2010. you said, i'm going to extend the tax policies that we have. i'm not going to raise taxes on anyone, because when the economy is growing slow like this, when we're in recession, you shouldn't raise taxes on anyone. well, the economy is still growing slow. as a matter of fact, it's growing much more slowly now than when you made that statement. so if you believe the same thing, you just don't want to raise taxes on people, and the reality is, it's not just wealthy people. you mentioned donald trump. it's not just donald trump you're t
said you'd cut the deficit in half, it's now four years later, we have $1 trillion deficits, the cbo says we'll have a $1 trillion deficit each of the next four years. if you're re-elected, we'll get to a $1 trillion debt. and i love this idea of $4 trillion in cuts. you found $4 trillion of ways to get closer to a balanced budget, yet we still show $1 trillion deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want to raise taxes. well, i don't...
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Sep 19, 2011
09/11
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we can't afford them when we're running these big deficits. now, i am also ready to work with democrats and republicans to reform our entire tax code. to get rid of the decades of accumulated loopholes. special interest carve outs and other expenditures that stack the deck against small business owners and families who can't afford fancy accounts. our tax code is more than 10,000 pages long. if you stack up all the volumes, they're almost five feet tall. that means that how much you pay often depends less on what you make, and more on how well you can dwane the system. and that's especially true of the corporate tax code. we've got one of the highest corporate tax rates in the world, but it's riddled with exceptions and special interest loopholes, so some companies get out paying a lot of tacks while the rest of them have to end up footing the bill. this makes our entire economy less competitive and our country a less desirable place to do business. that has to change. our tax code shouldn't give an advantage to companies with best connected l
we can't afford them when we're running these big deficits. now, i am also ready to work with democrats and republicans to reform our entire tax code. to get rid of the decades of accumulated loopholes. special interest carve outs and other expenditures that stack the deck against small business owners and families who can't afford fancy accounts. our tax code is more than 10,000 pages long. if you stack up all the volumes, they're almost five feet tall. that means that how much you pay often...
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Oct 16, 2018
10/18
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the war of 1812, big deficit. the civil war, huge deficit. world war 1, big deficit. world war ii was a bigger deficit. the financial crisis in 2008 led to large peace-time deficits in the years after because the government spent billions of dollars to stimulate an economic recovery. each of these large deficits was followed by some sort of belt tightening that shrunk the deficits or actually created a budget surplus where you take in more money than you spend. one of the contributing factors is the gop tax cuts. congress knocked off more than $1 trillion worth of forecasted tax revenue. and then boovted boosted government spending at the same time. promising that the gop tax law would decrease the deficit because it would unleash growth. remember the president talking about four, five, six percent. so far, we haven't seen that. joining me, cnbc editor at large john harwood. the deficit is soaring. republicans, the party in power, decried debt and deficits for years. what gives? >> well, what gives is we have a very consistent pattern. it's gone all the way bag to ron
the war of 1812, big deficit. the civil war, huge deficit. world war 1, big deficit. world war ii was a bigger deficit. the financial crisis in 2008 led to large peace-time deficits in the years after because the government spent billions of dollars to stimulate an economic recovery. each of these large deficits was followed by some sort of belt tightening that shrunk the deficits or actually created a budget surplus where you take in more money than you spend. one of the contributing factors...
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Nov 27, 2012
11/12
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social security, not a penny to the deficit. medicare, he wants $250 million over a quarter of a year. that saves for medicare. and medicaid is more essential now than it's ever been and it's a key part of obama care. i don't know what mr. plouffe was talking about. i think he got the republican talking points mixed up with his. >> that was my first impression when i saw the videotape as well. the question comes up. what are you willing to accept in a deal when it comes to programs like medicare and medicaid? >> look, this december should be about revenues. then we can go on to have discussions about the long-term solvency and where medicare fits in and the changes coming by 2014 as we move ahead with obama care. but revenues have to come first. they should come first because we hold all the ace s. they don't have to worry about their pledge because they are voting to reduce taxes for working americans. they just can't do anything about the millionaires and billionaires and the unearned income, which is going to go back to clint
social security, not a penny to the deficit. medicare, he wants $250 million over a quarter of a year. that saves for medicare. and medicaid is more essential now than it's ever been and it's a key part of obama care. i don't know what mr. plouffe was talking about. i think he got the republican talking points mixed up with his. >> that was my first impression when i saw the videotape as well. the question comes up. what are you willing to accept in a deal when it comes to programs like...
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Oct 4, 2012
10/12
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no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle class families by about $3,600. and the reason is, because i believe that we do best when the middle class is doing well. and by giving them those tax cuts, they have a little more money in their pocket. so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession that we've went through. they can buy a computer for their kid, who's going off to college. which means they're spending more money, businesses have more customers, businesses make more profits, and then hire more workers. now, govern
no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle...
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May 17, 2013
05/13
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paul ryan was the deficit guy in the deficit argument. the deficit was too big. one of their main arguments against re-electing president obama. we just received the new estimate of what the deficit will be by the end of the year. this is what the deficit had been up through last year, so 2009, that's president obama's first year, 2011, 2012, show the next year. this is what they had projected the deficit would be by the end of this year, but now that estimate has been revised. they have revised the projected deficit for this year and as of now, this is what the new deficit -- we have that slide whistle and we never used it before, are you kidding me? the opportunity costs. as of now this is the estimate of what the new deficit will be by the end of the year. that means the deficit has shrunk by $800 billion since president obama has been in office. this is the fastest deficit reduction we have had as a country since world war ii. honestly, that's kind of terrible. it's kind of terrible to the extent we are working on this stupid deficit issue, spending less inst
paul ryan was the deficit guy in the deficit argument. the deficit was too big. one of their main arguments against re-electing president obama. we just received the new estimate of what the deficit will be by the end of the year. this is what the deficit had been up through last year, so 2009, that's president obama's first year, 2011, 2012, show the next year. this is what they had projected the deficit would be by the end of this year, but now that estimate has been revised. they have...
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Feb 26, 2013
02/13
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point, deficits come up in periods of economic hardship. it is not a good time to come up. it hurts the economy to cut the deficit quickly while the economy it weak. so krystal this is the real danger of the sequester fight, this is not a cliff or a breach or a government shutdown. it will hurt, not that badly, but hurt the economy maybe in ways people don't even recognize is coming from the sequester. it will take growth out and people having jobs out of the pretty soon we'll see shrinking, but it wouldn't be directly relatable back. >> it was interesting last week, there was polling asking people how much have you heard about the sequester from pew. and 72% of people said they either heard only a little bit about the sequester or nothing at all. they had heard very little or nothing at all. and that is changing, the president made a concerted push to make them trace back this pole, specifically by releasing state by state estimates of what is going to happen, the agency estimates, and i looked at local papers in virginia, where i'm from.
point, deficits come up in periods of economic hardship. it is not a good time to come up. it hurts the economy to cut the deficit quickly while the economy it weak. so krystal this is the real danger of the sequester fight, this is not a cliff or a breach or a government shutdown. it will hurt, not that badly, but hurt the economy maybe in ways people don't even recognize is coming from the sequester. it will take growth out and people having jobs out of the pretty soon we'll see shrinking,...
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May 22, 2013
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the deficit actually shrank. we'll discuss the latest inconvenient truth, next on "now." ♪ even superheroes need superheroes, and some superheroes need complete and balanced meals with 23 vitamins and minerals. purina dog chow. help keep him strong. dog chow strong. meet the 5-passenger ford c-mc-max one. c-max two. that's a super fuel- efficient hybrid for me. and a long range plug-in hybrid for you. now, let's review. introducing the ford c-max hybrid and the ford c-max energi plug-in hybrid. say hi to the c-max hybrids. diarrhea, gas, bloating? yes! one phillips' colon health probiotic cap each day helps defend against these digestive issues... with three strains of good bacteria. [ phillips' lady ] live the regular life. with three strains of good bacteria. i tthan probablycare moreanyone else.and we've had this farm for 30 years. we raise black and red angus cattle. we also produce natural gas. that's how we make our living and that's how we can pass the land and water back to future generations. people sh
the deficit actually shrank. we'll discuss the latest inconvenient truth, next on "now." ♪ even superheroes need superheroes, and some superheroes need complete and balanced meals with 23 vitamins and minerals. purina dog chow. help keep him strong. dog chow strong. meet the 5-passenger ford c-mc-max one. c-max two. that's a super fuel- efficient hybrid for me. and a long range plug-in hybrid for you. now, let's review. introducing the ford c-max hybrid and the ford c-max energi...